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ClareK
August 10, 2020
Question

Partnership Expense Journal Query

  • August 10, 2020
  • 1 reply
  • 0 views

Hi Everyone, 

 

I have a partnership, we need to record fuel at the .45p per mile,

We pay all our fuel personally and haven't been that great at recording it but luckily the MOT Mileage is within a week of our financial year so we are going to work out a % to use. 

I understand we need to do a journal Debiting fuel costs but what account do we Credit? And do we need to split per partner 50/50?

 

The same for our mobile bills, one is used way more than the other so we were going to split 70/30

 

Thanks

 

1 reply

A
Ashleigh1
August 10, 2020

Hello ClareK, 

 

Welcome to the Community page, 

 

 

In regards to your question, it is more of an accountancy question then technical support question. 

 

We are not trained accountants, so you would be best of seeking advice on the best way to record this in your Quickbooks from an accountant. 

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